Analysed & Summarised By: CA Abhishek Ranka

Abhishek Ranka & Associates

Ratlam
+91 94240 20440
ranka.abhishek@gmail.com
(Our Economy size is equal to economy size of
150 nations across the world)
Pre-Budget Challenges
 Economy Stability

 Education

 Environment

 Health

 Agriculture
 3 Prominent basics/Themes of
Budget
 Aspirational India- Education,
Wellness water & Sanitization

 Economic Development

 Caring Society
Modern 16 Points (Aspirational India)

 Agriculture laws implementation

 Comprehensive measures for 100 Water stress District
 Provide 20 Lakhs Farmers for setting up stand alone
solar & 15 Lakhs Farmers for grid related solar plant
 Pervading Chemical utilisation (“Bhoomitirthikumb”)
 162bn agri produce- Viability gap funding for
Warehousing
 Danya-Laxmi being assisted by Mudra and NABARD
 Kisan Rail through PPP arrangement
Modern 16 Points (Aspirational India)
 Krishi Udan will be launched by Civil Aviation for
National & Internationa Route
 Forticulture Sector : 311 Ml Mt which exceed
production from Food Grains – One Product One
District
 Integrated Farming System: Rain Side Area
 Online Organic Product Market
 Financing on Negotiable warehousing receipts
 NBFC / Co-operatives will help in Agriculture
Financing – Rs. 15 Lakhs Crore
Modern 16 Points (Aspirational India)
 PPR : Cattle Feed and Milk Industry to double by 2025
 Blue Eco- 200 Lakhs tonne production for Fish Market
by 2022 -(Fisheries Market) “Sagar Mitra” –FFMO
 Dindayal Antyoday Yojana

 Fund Delegation:
 Agriculture & Allied Activities: 2.83 Lakhs Crore
 Irrigation : 1.6 Lakhs Crore
Wellness water and Sanitization
 Mission Indradhanush
 20000 empanelled hospitals under Aayushman yojana
 Setting up hospitals under PPP mode (112 Districts will
be on priority those who don’t have aayushman
empannelled hospitals)
 Proceed from Medical devices would be used to
support these vital mission
 “TB Haarega Desh Jitega”- By 2025
 Jan Aushadhi Scheme : 2000 Medicines
 16900 Crore attributed to Medical
Sanitization
 ODF Plus / Solid Waste processing

 Rs. 12300 Crore for Swacch Bharat

 Jan Jeevan Mission- Rs.3.6 Lakhs Crore (Water to

everyone)
Education & Skills
 New Education Policy will be launched soon
 Urban Local bodies will provide internship to new
engineers
 Online Education programs who ranked under Top 100
 Shortage of Qualified Medical Doctors: District level
medical college
 Special bridge course
 Rs. 99300 crore for education & rs. 3000 crore for skill
development
Econonomic Development

 Investment Clearance Cell: End to End Facility for

Investment , Funding , Land Banks
 5 New Smart Cities in Collaboration of PPP Mode
 Promotion of Electronic Manufacturing Industries
 High Export Order: Nirvik (High Insurance Scheme)
 Export Hub for Each District
 Government E-Market Place
Infrastructre
 6000 Kms Highways
 550 Railway Station with wifi
 Solar energisation on govt land
 150 trains will run through PPP Mode
 More Tejas trains for iconic destinations
 100 More airports will develop by 2024
 Rs. 1.7 Lakhs Crore for transport infrastructure
 Prepaid Smart Digital Meter for electricity instead
Conventional Meter (Rs. 22000 crore allocation)
The New Economy
 Building Data Center Parks

 All Public Institutions including Gram Panchayat will

be provided net connectivity

 FTTH will be for EVERYONE (Rs. 6000 Crore)

 Quantum technology and innovation

3. Caring Society
 Women and Child
 “ Beti Bachao Beti Padao” – Girls Education ratio is
higher than boys
 10 Crore household nutritions uploaded on portal by
Anganwadi
 Rs.35000 crore for Nutrition related programme
 Rs. 85000 Crore for SC and Backward Classess
 Rs. 53700 Crore ST Caste
 Rs. 9500 Crore for Senior Citizen and Handicapped
Culture & Tourism
 5 Archeological sites will be developed as Iconic
 Rakhigard,Haryana
 Hastinapur (UP)
 Shivsagar (Assam)
 Tolavira
 AM (Tamilnadu)

 4 More Museums as world class experience

 Tribal Museum at Ranchi Jharkhand
Governance & Financial Inclusion
 Clean, Corruption Free and Policy Driven

 Taxpayer Charter will be part of our Statue

 Depositor’s money is safe at Commercial / shceduled

Bank is ensured by House

 Rs. 5 Lakh of insurance for each depositor

 Subordinate Debts for MSMEs

Financial Market

 Credit guarantee to NBFC and HFC looking to

liquidity issues

 Receipts estimated Rs. 22.21 Lakhs Crore and

Expenditure Rs. 30.42 Lakhs Crore
Direct Tax-PartB
 Corporate Tax Rate reduced to 15% for New Company

 Personnel Income Tax Rates

 10% from Rs. 5 Lakhs to Rs. 7.5 Lakhs
 15% from Rs. 7.5 Lakhs to Rs. 10 Lakhs
 20% from Rs. 10 Lakhs to Rs. 12.5 Lakhs
 25% from Rs. 12.5 Lakhs to Rs. 15 Lakhs
 30% for above Rs. 15 Lakhs

 Revenue Forgone by Rs. 40000 Crore

Direct Taxes
 70 types of deductions out of 100 removed under new tax
regime

 DDT @ 15%+Surcharge – Removed DDT (Dividend will be

taxed only in hand of recipient)
 For Power sector @ 15%
 No tax for startup Corporates upto Rs. 25 crore turnover for
3 years and also for T/O upto Rs. 100 crore for existing co.
 Audit limit increased 5 times to Rs. 5 crore subject to
optional and for turnover include 95% digital transactions
 Slab Rates for Individuals
 Comparison old v/s New
AY 2020-21 Tax Rate AY 2021-22 Tax Rate
Upto Rs. 2.5 Lakhs NIL Upto Rs. 2.5 Lakhs Nil Rate
Rs. 2.5 L to Rs. 5 L 5% Rs. 2.5 L to Rs. 5 L 5%
Rs. 5 L to Rs. 7.5 L 20% Rs. 5 L to Rs. 7.5 L 10%
Rs. 7.5 L to Rs. 10 L 20% Rs. 7.5 L to Rs. 10 L 15%
Rs. 10 L to Rs. 12.5 L 30% Rs. 10 L to Rs. 12.5 L 20%
Rs. 12.5 L to Rs. 15 L 30% Rs. 12.5 L to Rs. 15 L 25%
Above Rs. 15 L 30% Above Rs. 15 L 30%

 * New Tax regime is optional and will not allow any type of
deduction and no rebate under new Tax regime
 There will be saving of Rs. 78000/- approx. on taxable income of
Rs. 15 Lakhs
Direct Tax
 Faceless Appeals

 No Dispute but Trust Scheme

 Proposed scheme : Only amount of tax to pay and

interest and penalty will be waived if pay by 31.03.2020
and with some additional amount upto 30.06.2020

 CBDT instructed to adopt charter

Indirect Tax
 Custom duty increased on footwear and furnitures

 New system of invoicing already launched this month

at GST

 QR Code facility at GST system and Cash rewards for

potential and committed Tax Payers

 105 crore eway bills generated

Note: This presentation summarised based on speech and finance act, 2020 placed at HOUSE which may
possess corrections/mistakes and amendment.

Thank You....